It is a proven fact that economic crisis can lead to the start of a shooting war. It is also true a political crisis can have the same result. Syria is now in a state of complete chaos. The airstrikes, apparently from Israel, have upped the ante. The Russian military response, firing cruise missiles on Syria ISIS targets has Syria is now in play on multiple levels, and with multiple players, Iran, Hezzbollah, Assad Junior, Russia, the US led Coalition, the Kurds and Turkey. Of them all, it is Erdogan’s brazen moves that are setting in motion the ongoing disaster in Syria.
Erdogan is a man on a mission. The mission is the restoration of the historical Ottoman Empire. The real danger in Syria is all the other players are making political and military decisions based on military and political value judgments. In the case of Erdogan, this is a very dangerous, and potentially fatal, thing to do. Erdogan is taking action based on spiritual and religious values, and not military or political values. As such, he is moving to the beat of another drummer than everybody else.
Finally, Erdgoan is now, after full consolidating all political and military power in Turkey, faced with an economic crisis. It is my belief that Erdogan’s economic crisis will result in military action designed to divert the people of Turkey’s attention away from their collapsing Lira. It should be obvious that Erdogan can’t wave a wand and make his economic crisis go away. Erdogan will do the next best thing, which is to unleash his military on the Kurds, and on his “enemies.”
The link is below.
Turkish Lira Tumbles To Record Low After Erdogan Promise To “Rescue Investors From High Rates”
nvestors have called for higher interest rates to moderate an economy they say is overheating, but Turkey’s responded instead with stimulus measures aimed at boosting growth.
“There isn’t much use, from a disinflation perspective, if any tightening by the central bank will lead the government to become even more aggressive via fiscal measures,” Kaan Nazli, a strategist at Neuberger Berman Group, said by email.
And Erdogan’s comments today have sparked fresh selling in the Lira…
Those who say Turkey’s growth rate is excessive are speaking out of jealousy, Turkish President Recep Tayyip Erdogan says in a speech announcing new investment incentives in Ankara.
Erdogan says that the Turkish growth rate is creating a more just income distribution, and hopes that unemployment will drop below 10% soon.
Growth means investment. Investment means employment, production, technology, exports and prosperity, Erdogan says.
“Without bringing interest rates down, can these investments be done? We’re talking about an investment-support incentive system, and here, first of all, we need to save investors from these high interest rates”
Above 5.00 against the Euro for the first time ever and above 4.00 versus the dollar for the first time ever…
This mismanagement of the currency leads to a loss of confidence in the purchasing power of the lira which is hard to cure,” said Lutz Roehmeyer, who helps oversee about $14 billion at Landesbank Berlin Investment GmbH. “Only massive one-off hikes can heal this situation, which is of course not popular as it slows the economy.”
Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
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